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Side-by-side financial comparison of Aqua Metals, Inc. (AQMS) and Dow Inc. (DOW). Click either name above to swap in a different company.
Aqua Metals, Inc. develops and commercializes sustainable hydrometallurgical recycling technologies for lead-acid batteries, eliminating toxic emissions from traditional smelting. It serves automotive, energy storage, and industrial battery markets across North America, focusing on circular economy solutions for critical battery materials.
The Dow Chemical Company is an American multinational corporation headquartered in Midland, Michigan, United States. The company was among the three largest chemical producers in the world in 2021. It is the operating subsidiary of Dow Inc., a publicly traded holding company incorporated under Delaware law.
AQMS vs DOW — Head-to-Head
Income Statement — Q3 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $0 | $9.5B |
| Net Profit | $-3.1M | — |
| Gross Margin | — | 5.8% |
| Operating Margin | — | — |
| Net Margin | — | — |
| Revenue YoY | — | -9.3% |
| Net Profit YoY | 40.1% | — |
| EPS (diluted) | — | $-2.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $9.5B | ||
| Q4 25 | — | $9.5B | ||
| Q3 25 | $0 | $10.0B | ||
| Q2 25 | — | $10.1B | ||
| Q1 25 | $0 | $10.4B | ||
| Q4 24 | — | $10.4B | ||
| Q3 24 | $0 | $10.9B | ||
| Q2 24 | $0 | $10.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.5B | ||
| Q3 25 | $-3.1M | $62.0M | ||
| Q2 25 | — | $-835.0M | ||
| Q1 25 | $-8.3M | $-307.0M | ||
| Q4 24 | — | $-35.0M | ||
| Q3 24 | $-5.2M | $214.0M | ||
| Q2 24 | $-6.2M | $439.0M |
| Q1 26 | — | 5.8% | ||
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 7.3% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 12.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -16.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | -6.5% | ||
| Q1 25 | — | -3.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | -15.6% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | -8.3% | ||
| Q1 25 | — | -2.9% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 4.0% |
| Q1 26 | — | $-2.16 | ||
| Q4 25 | — | $-2.16 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $-1.18 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | — | $-0.08 | ||
| Q3 24 | — | $0.30 | ||
| Q2 24 | — | $0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | $3.8B |
| Total DebtLower is stronger | — | $17.8B |
| Stockholders' EquityBook value | $6.5M | $16.0B |
| Total Assets | $10.5M | $58.5B |
| Debt / EquityLower = less leverage | — | 1.12× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.8B | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | $3.6M | $4.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | $1.6M | $1.5B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $3.0M | $2.9B | ||
| Q2 24 | $7.8M | $3.3B |
| Q1 26 | — | $17.8B | ||
| Q4 25 | — | $17.8B | ||
| Q3 25 | — | $17.7B | ||
| Q2 25 | — | $16.2B | ||
| Q1 25 | — | $15.9B | ||
| Q4 24 | — | $15.7B | ||
| Q3 24 | — | $16.2B | ||
| Q2 24 | — | $16.0B |
| Q1 26 | — | $16.0B | ||
| Q4 25 | — | $16.0B | ||
| Q3 25 | $6.5M | $17.5B | ||
| Q2 25 | — | $17.2B | ||
| Q1 25 | $9.5M | $16.8B | ||
| Q4 24 | — | $17.4B | ||
| Q3 24 | $20.9M | $18.3B | ||
| Q2 24 | $25.2M | $18.3B |
| Q1 26 | — | $58.5B | ||
| Q4 25 | — | $58.5B | ||
| Q3 25 | $10.5M | $61.0B | ||
| Q2 25 | — | $59.0B | ||
| Q1 25 | $18.1M | $57.5B | ||
| Q4 24 | — | $57.3B | ||
| Q3 24 | $28.5M | $59.4B | ||
| Q2 24 | $33.7M | $58.5B |
| Q1 26 | — | 1.12× | ||
| Q4 25 | — | 1.12× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.87× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.3M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $284.0M | ||
| Q3 25 | $-2.3M | $1.1B | ||
| Q2 25 | — | $-470.0M | ||
| Q1 25 | $-2.8M | $91.0M | ||
| Q4 24 | — | $814.0M | ||
| Q3 24 | $-3.6M | $800.0M | ||
| Q2 24 | $-3.8M | $836.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-284.0M | ||
| Q3 25 | — | $563.0M | ||
| Q2 25 | — | $-1.1B | ||
| Q1 25 | $-3.0M | $-594.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $-4.6M | $64.0M | ||
| Q2 24 | $-7.5M | $113.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -3.0% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | -11.2% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 5.7% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 18.18× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.74× | ||
| Q2 24 | — | 1.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
